Malaysia to Pick Up Momentum
According to The World Bank, Malaysia's economy is expected to grow at a faster rate of 5.7% this year, compared to its November forecast of 4.1% for 2010.
The East Asian region is also expected to record a higher growth of 8.7% from the earlier projection of 7.8% in November.
With the economic crisis behind us, Malaysia's manufacturing sales also registered another double digit growth of 28.8% or RM9.7 billion in January 2010 to reach RM43.3 billion from RM33.6 billion in the same month last year, according to the latest release from the Department of Statistics (DOS).
Penang: The Silicon Island of the East
Malaysia’s electronics industry makes up about 43% of the country’s total manufacturing sector. Penang, considered by many as the Silicon Island of the East, is one of the four states that form the Northern Corridor, which aims to position Malaysia as a more distinguished and value-added economy in Southeast Asia. With its technical and well-skilled environment that is established over the years, Penang remains strong with the capability to become a high-technological electronics hub in the region.